Buy Aban Offshore, target Rs 980, stop loss Rs 875: Kunal Saraogi

In a chat with ET Now, Kunal Saraogi, Technical Analyst, www.equityrush.com, talks about the outlook of Aban Offshore.

What are the levels you will be watching out for Aban Offshore?

Aban Offshore has very decisively broken resistance of Rs 875, largely on account of short covering. We see an aggressive short covering in Aban Offshore. I think this current move can take it to Rs 980. So, the next level to watch out on that stock is Rs 980. It's an aggressive target. The stock can be bought into, but you'll have to be slightly risk positive to be able to buy into Aban Offshore but you can definitely buy here with a stop loss below Rs 875.